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Insurance

Romania

Insurers, reinsurers, and brokers face an increasingly unpredictable world, not least because of tougher capital and risk requirements impacting on your business. So you can be certain to meet these challenges successfully, you need advisors with specialist knowledge of your sector and a detailed understanding of the evolving regulatory framework.

CMS has helped major insurers establish and expand operations in Central and Eastern Europe. We are the market leader in M&A in the sector, offer dedicated regulatory expertise and have extensive experience from distribution of insurance products to defence of class action claims.

CMS Romania has a dedicated team of insurance law specialists who focus on both contentious and non-contentious matters, primarily advising leading global insurers and reinsurers, as well as intermediaries, on their regulatory and business challenges in Romania – from complex regulatory issues, through to mediation and litigation around claims, and also corporate and commercial transactions.

With 100 insurance lawyers across 34 countries, we can protect your commercial interests in your home market and across borders. We provide advice based on strong local knowledge delivered on a Europe-wide basis by expert lawyers, many of whom have worked in the sector or for regulatory authorities.

We assist clients on the most complex transactional, advisory and contentious matters. A multi-disciplinary team advises on strategic as well as operational matters, liability and dispute resolution, policy drafting, coverage, regulatory issues, M&A, capital raising and restructurings, HR, tax, real estate and commercial issues.

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20 July 2020
COV­ID-19 and the CEE in­sur­ance in­dustry
This CMS guide looks at the ten most fre­quent ques­tions re­ceived from the in­sur­ance in­dustry re­gard­ing the COV­ID-19 pan­dem­ic. Down­load here.
14 March 2018
CMS Ex­pert Guide to in­sur­ance law and reg­u­la­tion
Are you look­ing for in­form­a­tion on in­sur­ance law and reg­u­la­tion? This CMS Ex­pert Guide provides you with everything you need to know.
02 July 2020
EU agrees new class ac­tion re­gime for con­sumer dis­putes
After a long gest­a­tion, on 30 June 2020 the Coun­cil of the EU pub­lished the text for the col­lect­ive re­dress dir­ect­ive (the “CR Dir­ect­ive”) (text avail­able here). This le­gis­la­tion is in­ten­ded to bet­ter...
13 November 2018
The trans­port­a­tion of the In­sur­ance Dis­tri­bu­tion Dir­ect­ive in CEE
CMS or­gan­ised a We­bin­ar on the trans­pos­i­tion of the IDD in CEE cov­er­ing five jur­is­dic­tions in CEE, namely Po­land, Ro­mania, Hun­gary, the Czech Re­pub­lic and Bul­garia. For those who were un­able to par­ti­cip­ate in the We­bin­ar, or would like to re­fresh their me
15 June 2020
EIOPA to re­view fun­da­ment­al basis of su­per­vi­sion of in­sur­ance value chain
The European and Oc­cu­pa­tion­al Pen­sion Au­thor­ity (“EIOPA”) has launched a pub­lic con­sulta­tion on the (re)in­sur­ance value chain and new busi­ness mod­els arising from di­git­al­isa­tion (the “Dis­cus­sion...
01/09/2014
10 things every in­surer should know about Cent­ral East­ern Europe
09 June 2020
Ro­mani­an Anti-Dis­crim­in­a­tion Coun­cil rules age lim­its dis­crim­in­at­ory in...
In a re­cent rul­ing the Ro­mani­an Anti-Dis­crim­in­a­tion Coun­cil held that im­pos­ing a max­im­um age lim­it when con­clud­ing travel in­sur­ance amounts to dis­crim­in­a­tion un­der Ro­mani­an law. The Coun­cil held that...
17/07/2014
Risk Mat­ters: In­sur­ance Sec­tor news­let­ter Sum­mer 2014
High­light­ing top­ic­al is­sues for in­sur­ance sec­tor par­ti­cipants
20 March 2020
Ro­mani­an Fin­an­cial Ser­vices Au­thor­ity is­sues guid­ance on re­port­ing dur­ing...
The Ro­mani­an Fin­an­cial Ser­vices Au­thor­ity (the “FSA”) has is­sued guid­ance with re­spect to re­port­ing and com­mu­nic­at­ing with the reg­u­lat­or dur­ing the state of emer­gency. As we have pre­vi­ously re­por­ted...
30/06/2010
10 Things Every In­surer Should Know about West­ern Europe
16 March 2020
European in­sur­ance re­cov­ery and res­ol­u­tion frame­work now an in­ev­it­ab­il­ity
For a long time, the in­sur­ance in­dustry has suc­cess­fully ral­lied against at­tempts to in­tro­duce a re­cov­ery and res­ol­u­tion re­gime sim­il­ar to the Bank Re­cov­ery and Res­ol­u­tion Dir­ect­ive (BRRD). However, EIOPA’s...
28 February 2020
UK/EU fin­an­cial ser­vices after Brexit -cross bor­der reg­u­la­tion after the...
On 25 Feb­ru­ary, the Coun­cil of the EU pub­lished the fi­nal ver­sion of its ne­go­ti­at­ing man­date and, two days later, the UK gov­ern­ment set out its ap­proach to our fu­ture re­la­tion­ship with the EU. Ne­go­ti­ations...